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Domestic cues has taken centrestage today with the markets likely to react to the outcome of the Karnataka Assembly polls, seen by experts as a run-up to the general elections scheduled for 2014. The Sensex has opened up 80 points at 19,968. Nifty is up 23 points at 6,066. Metal and realty shares are among the top gainers in early morning deals.
As per the F&O segment data, concentration in Nifty calls is shifting to a higher strike at 6,200 levels, which is a bullish signal, said Shashank Mehta, derivatives strategist at broking firm Shah Investor’s Home.
Major stock indexes in Germany and the United States hit all-time high level on Tuesday after data bolstered expectations that Germany has returned to growth, and a successful bond sale in Portugal indicated the country is on track to exit its bailout.
The Dow Jones industrial average rose 0.58 per cent to close at a record 15,056, while the S-and-P Poor’s 500 Index gained 0.52 per cent to end at 1,626 levels.
Asian markets were trading higher on Wednesday, with Nikkei and Hang Seng gaining 1.6% and 0.6%, respectively.
The mid-cap index is up marginally. The advance decline ratio is on the advancing side in opening deals.
All the sectoral indices are in the green this morning.BSE realty index is leading the gains - up 1% at 1954. Metal index has gained 0.8% , mirroring movement in the London Metal Exvhange. IT index is up 0.6%, followed by oil & gas and healthcare.
Tata Motors has added 2% at Rs 305. Gail India is up 1.5% at Rs 348. Sterlite and ONGC are also in green. From the IT space, TCS and Infosys are up nearly 1% each. HDFC is up 1.3% at Rs 864 ahead of its results.
However, Hero MotoCorp has slipped 1.3% at Rs 1,685. Bajaj Auto, Dr Reddy's. NTPC nd Mahindra & Mahindra are down half a per cent in trades.
Among individual stocks, Shriram Transport has slipped 0.5% at 738, in spite of the fact that the company has reported 15 per cent rise in March quarter net profit.
Allahabad Bank, on the other hand, posted 68.5 per cent dip in net profit at Rs 126.15 crore on account of rise in bad loans. The stock is down 2.7% at Rs 123.
DLF is planning to sell up to 81 million shares and has mandated eight banks for the institutional placement sale, reports suggest. DLF has gained 1% at Rs 242.
